The rectification of an award under Article 49(2) of the ICSID Convention is a remedy for inadvertent omissions and minor technical errors in an award. It enables the arbitral tribunal to correct mistakes that may have occurred in the award’s drafting in a non-bureaucratic and expeditious manner. Such corrections are provided for in Article 49(2) of the ICSID Convention: […]
2016 SIAC Arbitration Rules
To celebrate its 25 years of establishment, the Singapore International Arbitration Centre (“SIAC”) has drafted the “2016 SIAC Rules”, replacing the 2013 Rules. These new Rules came into effect on August 1, 2016. The 2016 SIAC Rules are described as “a unique hybrid of modern commercial arbitration rules and specialist investment arbitration rules”[1]. The 2016 […]
Emergency Arbitrator Award
Most arbitration rules of the leading arbitration institutions have today introduced the possibility of appointing an Emergency Arbitrator who will decide on Interim Measures (including the ICC, the LCIA, the SIAC, the HKIAC and the SCC). These rules are being increasingly used by parties to request interim measures. The Arbitration Institute of the Stockholm Chamber […]
Time Limits to Initiate an Investment Arbitration
The initiation of arbitration proceedings on the basis of investment protection treaties may be subject to time limitations (ratione temporis limitations). The most common types of time limits are the provisions establishing cooling-off periods that may require claimants to wait and attempt to solve the dispute amicably before they can bring a claim. Less common […]
Philip Morris Arbitration Award Made Public
The Philip Morris arbitration award rendered by arbitrators Professor Don McRae, Professor Gabrielle Kaufmann-Kohler and Dr. Karl-Heinz Böckstiegel as presiding arbitrator, has finally been made public. The controversial arbitration was brought by Philip Morris in response to Australia’s plain packaging legislation for cigarettes. On 18 December 2015, the arbitration tribunal decided that it had no […]